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Nellius Irene

Alleged Cambodian crypto fraud ringleader Chen Zhi extradited to China over $12B scheme

Cambodian authorities arrested Chinese-born tycoon Chen Zhi in Cambodia and extradited him to China over an alleged $12 billion crypto fraud that used so-called "pig butchering" scams. His network is accused of forcing staff to run cyber-fraud compounds, collecting 127,271 Bitcoin now valued at about $11.6 billion, which has been seized. The case has intensified concerns about how technology and cryptocurrencies are exploited for large-scale criminal activity.
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